Spar announces Euro 100 mln bond issue

Friday, November 18, 2005, 10:43

Hungary's Spar supermarkets will issue bonds worth Euro 100 million to finance investments, chairman of the board of Spar Magyarország Kereskedelmi Kft Peter Feiner said on Wednesday. Half of the five-year bonds will be issued in euros and the other half in forints. The euro bonds will carry 3.75% interest, the forint bonds 7%. Spar Magyarország plans to spend upwards of Ft 10 billion a year over the next 3-5 years to open 15-20 supermarkets and 3-5 hypermarkets each year. It aims to have 35-40 hypermarkets and 200-250 supermarkets in Hungary by the end of the period. (Econews; NG 4)

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